Alternative Power Solution Ltd v Central Electricity Board and another – WLR Daily

Posted January 14th, 2015 in fraud, injunctions, law reports, letters of credit, Privy Council by tracey

Alternative Power Solution Ltd v Central Electricity Board and another; [2014] UKPC 31; [2015] WLR (D) 3

‘The test for the grant of an interlocutory injunction to prevent payment under an irrevocable letter of credit on the grounds of fraud was whether it was seriously arguable that, on the material available, the only realistic inference was that (i) the beneficiary could not honestly have believed in the validity of its demands under the letter of credit, and (ii) the bank had been aware of such fraud.’

WLR Daily, 9th September 2014

Source: www.iclr.co.uk